This wand was a magic item that belonged to Zoe the Fairy. She used it to perform various sorts of magic spells.
She primarily used the wand to shoot zapping bolt spells at people, mostly Spyro the Dragon when he reached points in his quests where he progressed too much to lose if he got defeated. She also zapped Ripto, on request from Elora, when he got upset about Spyro, which seemed to hurt him as he told Crush to kill her, unsuccessfully.
Spyro: Shadow Legacy[]
Zoe lost her wand in the Tree Tops, when the Calamity struck. Trina tasked Spyro with finding the wand and returning it to Zoe.
In Spyro: A Hero's Tail, Zoe adds that the zap of her wand not only saves Spyro's progress, but it also makes him lose "a million braincells", something which Spyro remarks as "excessively destructive".